MAP-EQUITY FUND
SUPPLEMENT DATED SEPTEMBER 27, 1996
TO THE PROSPECTUS DATED MAY 1, 1996
The following supplements information relating to fees,
charges, redemptions, and broker compensation described in the
above-referenced Prospectus.
The Board of Directors of MAP-Equity Fund (the "Fund") has
authorized First Priority Investment Corporation ("First
Priority"), the Distributor of the Fund, to offer for a limited
period shares of the Fund ("Promotional Shares") at Net Asset
Value ("NAV") (that is, with no sales load deducted when shares
are purchased). Promotional Shares will, however, be subject to
a Contingent Deferred Sales Load ("CDSL") of 1% if redeemed
within one year of purchase. Redemptions will be deemed to be
taken in the following order: first from reinvested dividends and
capital gains on Promotional Shares; second, from unrealized
investment appreciation, if any, on Promotional Shares; third,
from Promotional Shares on a First-In/First Out ("FIFO") basis,
and fourth, from reinvested dividends and capital gains,
appreciation and shares pertaining to purchases prior to the
offering of Promotional Shares. The CDSL will also apply to
Promotional Shares exchanged within one year of purchase into MAP-
Government Fund, Inc., although the CDSL will not be deducted
until the shares in MAP-Government Fund are redeemed. The CDSL
will not apply to shares purchased under existing NAV sales
programs, by reinvestment of any dividends or capital gains, or
to any amount of appreciation in the NAV.
Promotional Shares qualify under the Accumulation Privilege
and Letter of Intent programs. The CDSL is waived for
distributions from an individual retirement plan or 403(b) plan
account due to death or disability of the Shareholder, or upon
periodic distributions based on life expectancy; tax-free returns
of excess contributions from employee benefit plans;
distributions from employee benefit plans, or those due to plan
termination or plan transfer; redemptions through certain
automatic withdrawals not exceeding 10% of the amount that would
otherwise be subject to the CDSL; redemptions initiated by the
Fund due to a Shareholder's account falling below the minimum
specified account size; and redemptions following the death of
the Shareholder or the beneficial owner.
This offer will be in effect from October 15, 1996 until
December 31, 1996, but may be extended for an additional limited
period. While this offer is in effect, First Priority will
compensate introducing brokers at the maximum rate of one percent
of purchase amounts. First Priority may also assume transaction
fees normally incurred by clients of Registered Investment
Advisers when purchasing shares at NAV.
After this offer has expired, the information in the
prospectus relating to fees, charges, redemptions, and broker
compensation will again be effective.